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      Question

      As provided under the IFSCA Act all sums realised by way

      of penalties or fines under this Act shall be credited to the____________________
      A IFSCA Fund in any currency Correct Answer Incorrect Answer
      B Consolidated Fund of India in Indian rupees Correct Answer Incorrect Answer
      C Contingency Fund of India in Indian rupees Correct Answer Incorrect Answer
      D Consolidated Fund of India in foreign currency Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Section 13 Powers of Authority in relation to financial products, financial services and financial institutions: (6) All sums realised by way of penalties or fines under this Act shall be credited to the Consolidated Fund of India in Indian rupees.

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